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v3.23.2

Revenue Recognition (Tables) | 3 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
Net Sales Disaggregated by Product Line and Geographic Area | The following table presents the Company’s revenue disaggregated by product line and geographic area:
|  | Three Months Ended |
|  | June 30, |
Market |  | 2023 |  |  | 2022 |
Refining |  | $ | 6,867 |  |  | $ | 7,875 |
Chemical/Petrochemical |  |  | 6,041 |  |  |  | 5,875 |
Defense |  |  | 22,817 |  |  |  | 9,800 |
Space |  |  | 4,822 |  |  |  | 6,462 |
Other Commercial |  |  | 7,022 |  |  |  | 6,063 |
Net sales |  | $ | 47,569 |  |  | $ | 36,075 |
Geographic Area |  |  |  |  |  |
Asia |  | $ | 5,902 |  |  | $ | 4,248 |
Canada |  |  | 899 |  |  |  | 997 |
Middle East |  |  | 1,049 |  |  |  | 459 |
South America |  |  | 27 |  |  |  | 1,461 |
U.S. |  |  | 38,141 |  |  |  | 28,169 |
All other |  |  | 1,551 |  |  |  | 741 |
Net sales |  | $ | 47,569 |  |  | $ | 36,075 |
The following table presents the Company's revenue percentages disaggregated by revenue recognized over time or upon shipment:
|  | Three Months Ended |
|  | June 30, |
|  | 2023 |  |  | 2022 |
Revenue recognized over time |  |  | 81 | % |  |  | 65 | %
Revenue recognized at shipment |  |  | 19 | % |  |  | 35 | %
Schedule of Net Contract Assets (Liabilities) | Net contract assets (liabilities) consisted of the following:
|  | June 30, 2023 |  |  | March 31, 2023 |  |  | Change |  |  | Change due to revenue recognized |  |  | Change due to invoicing customers/ additional deposits |
Unbilled revenue (contract assets) |  | $ | 34,467 |  |  | $ | 39,684 |  |  | $ | (5,217 | ) |  | $ | 26,478 |  |  | $ | (31,695 | )
Customer deposits (contract liabilities) |  |  | (56,016 | ) |  |  | (46,042 | ) |  |  | (9,974 | ) |  |  | 10,978 |  |  |  | (20,952 | )
Net contract (liabilities) assets |  | $ | (21,549 | ) |  | $ | (6,358 | ) |  | $ | (15,191 | ) |  |  |  |  |  |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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